Bloom Select Income Fund (TSX:BLB.UN) announces an Equity Buyback.
May 18, 2017 at 09:30 am IST
Share
Bloom Select Income Fund (TSX:BLB.UN) announces a share repurchase program. Under the bid, the fund will repurchase up to 217,623 units, representing approximately 10% of the public float. All purchases will be made through the facilities of the TSX or alternative Canadian trading systems in accordance with its rules and policies. All units purchased by the fund pursuant to the bid will be cancelled. The fund will not purchase in any given 30 day period, in the aggregate, more than 47,268 units, being 2% of the issued and outstanding units. Bloom Investment Counsel, Inc., the manager of the fund, believes that such purchases are in the best interests of the fund and are a desirable use of the fund’s resources. The company has received approval from the Toronto Stock Exchange. The bid will commence on May 24, 2017 and will expire on May 23, 2018. As of May 15, 2017, the company had 2,176,233 units in public float.
Bloom Select Income Fund (the Fund) is a Canada-based closed-end investment trust. The Fund's investment objectives are to provide unitholders with an investment in an actively managed portfolio consisting primarily of Canadian equity securities that exhibit low volatility at the time of investment, monthly cash distributions that have a component of Canadian eligible dividends, and the opportunity for capital appreciation. The Fund's portfolio consists primarily of Canadian equities, income trusts, and real estate investment trusts. The Fund's portfolio includes investments in various sectors, such as energy infrastructure, industrials, consumer discretionary, utilities, telecommunication services, materials, consumer staples, oil and gas distribution, cash and cash equivalent, financials and real estate. Bloom Investment Counsel, Inc. serves as the manager and trustee of the Fund.
BLOOM SELECT INCOME FUND 
